Showing posts with label IPO News. Show all posts
Showing posts with label IPO News. Show all posts
Monday, September 22, 2008
Thursday, September 18, 2008
Friday, September 5, 2008
Thursday, September 4, 2008
ICICI Ventures Controlled RFCL Acquires US-based Co For $340 Million
Delhi-based RFCL Ltd, which is completely controlled by ICICI Ventures, has reportedly acquired US-based speciality chemicals firm Mallinckrodt Baker for $340 million. This acquisition would bring RFCL into the top league of fine chemicals companies across the world, which include Sigma Aldrich Co., Thermo Fisher Scientific Inc. and Merck KGaA.
Though RFCL, which previously know as Ranbaxy Fine Chemicals Ltd, did quite a few small acquisitions last year, this acquisition is in a different league altoghter. ICICI Venture could put in anywhere in the range of $100 as equity contribution to the deal while the rest would be finance through debt from ICICI Bank and others, reports Economic Times.
Mallinckrodt Baker has over 2,000 employees in four plants in the US, the Netherlands, Mexico and Malaysia will bring in revenues of reported annualised revenue of $422 million in 2006-07. It supplies chemicals for laboratory research, microelectronics devices, pharmaceuticals and biotechnology therapeutics.
RFCL has three divisions, animal healthcare, fine chemicals and the diagnostics business. It was once a part of drug maker Ranbaxy Laboratories Ltd, but was acquired by ICICI Ventures in 2005 for Rs 125 crore. At that time the company had revenues of about $37 million (Rs 150 crore), which have now gone up to over $87 million (Rs 350 crore). Last year RFCL acquired three companies, Wipro Biomed and Godrej Medical Diagnostics in the diagnostics space and Chennai-based Alved Pharma and Foods Pvt Ltd in the animal healthcare space.
Though RFCL, which previously know as Ranbaxy Fine Chemicals Ltd, did quite a few small acquisitions last year, this acquisition is in a different league altoghter. ICICI Venture could put in anywhere in the range of $100 as equity contribution to the deal while the rest would be finance through debt from ICICI Bank and others, reports Economic Times.
Mallinckrodt Baker has over 2,000 employees in four plants in the US, the Netherlands, Mexico and Malaysia will bring in revenues of reported annualised revenue of $422 million in 2006-07. It supplies chemicals for laboratory research, microelectronics devices, pharmaceuticals and biotechnology therapeutics.
RFCL has three divisions, animal healthcare, fine chemicals and the diagnostics business. It was once a part of drug maker Ranbaxy Laboratories Ltd, but was acquired by ICICI Ventures in 2005 for Rs 125 crore. At that time the company had revenues of about $37 million (Rs 150 crore), which have now gone up to over $87 million (Rs 350 crore). Last year RFCL acquired three companies, Wipro Biomed and Godrej Medical Diagnostics in the diagnostics space and Chennai-based Alved Pharma and Foods Pvt Ltd in the animal healthcare space.
Wednesday, September 3, 2008
Reports of the Day / Stock Picks / Investment Ideas / Market News
ONGC Acquisition Note
ONGC CIti
Punj Lloyd Initiating Cover age
Shipbuilding sector report
Tata steel Ltd.
RayBan Limited
Weekly Stock P icks by India Infoline
BILT Tower Capital Report
Cairn India Macquaire
Calls of the Month
Calls of the Month2
Cement Monthly Update
Indian Steel Sector Macquarie
Hem Orient
Warren Buffetts - Ebook
ONGC CIti
Punj Lloyd Initiating Cover age
Shipbuilding sector report
Tata steel Ltd.
RayBan Limited
Weekly Stock P icks by India Infoline
BILT Tower Capital Report
Cairn India Macquaire
Calls of the Month
Calls of the Month2
Cement Monthly Update
Indian Steel Sector Macquarie
Hem Orient
Warren Buffetts - Ebook
Thursday, August 21, 2008
NHPC IPO to hit market on October 13
The much-awaited initial public offering of shares by state-run NHPC, formerly known as National Hydro Power Corporation, is expected to hit the market on October 13.
The company plans to list its shares on the stock exchanges on November 6, said, a senior NHPC official said on condition of anonymity.
According to the official, the company’s board of directors will recommend the price band for the proposed public offer, IPO, at a meeting slated for September 16, and will seek the approval of Empowered Group of Ministers’ for price fixation within the next two days.
A weeklong investor road show in cities within the country and abroad is planned from September 29.
NHPC Chairman SK Garg could not be reached for comments despite repeated attempts.
The company filed its offer document with the capital markets regulator, Securities and Exchange Board of India (SEBI) earlier on August 6.
NHPC plans to issue 167 crore equity shares of Rs 10 each. This would result in the dilution of 15 per cent of the government’s holding in the hydroelectric power major. Currently, the government owns 100 per cent of the company.
NHPC has a paid-up capital of Rs 11,500 crore, comprising of 1,150 crore equity shares of Rs 10 each.
Analysts tracking the sector sounded bullish on the proposed IPO.
“It is a highly rated public sector undertaking and will enthuse investor interest in the primary market,” said Amitabh Chakraborty, president (equity), Religare Enterprises. “The IPO is expected attract long-term foreign institutional investors along with retail participants and will bring in depth into the market.”
The public offer was delayed for want of the stipulated number of independent directors on the company’s board. SEBI’s listing norms stipulate that half the board of a listed company should comprise independent directors.
NHPC’s net profit during 2007-08 stood at Rs.1,004 crore—up from the previous year’s Rs. 925 crore.
It has an installed capacity of 5,200 MW generated from 13 of its hydro power plants and plans to increase its generation capacity to 11,000 MW by 2012 from 5,200 MW now. The company plans to invest Rs 90,000 crore in new projects over the next ten years.
About 10 hydroelectric power plants of the company are under various stages of implementation, including the country's largest hydroelectric project -- a 2,000 MW plant at Subansiri in Arunachal Pradesh.
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